XML 130 R8.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Consolidated Statements of Cash Flows Statement - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash Flows from Operating Activities:      
Consolidated net income $ 830.7 $ 1,246.7 $ 1,380.9
Adjustments to reconcile consolidated net income to net cash provided by operating activities –      
Equity in net income of affiliates (23.2) (20.2) (51.7)
Loss on extinguishment of debt 10.6 0.0 21.2
Impairment charges 14.5 6.1 3.4
Deferred tax (benefit) provision (38.2) 86.7 (81.3)
Depreciation and amortization 509.9 484.4 427.7
Stock-based compensation 23.3 41.4 70.2
Net change in recoverable customer engineering, development and tooling (32.4) 54.4 (54.1)
Net change in working capital items (see below) (25.5) (118.9) 72.5
Changes in other long-term liabilities 5.0 (23.0) 6.6
Changes in other long-term assets (10.1) (16.7) 2.1
Other, net 19.7 38.9 (14.4)
Net cash provided by operating activities 1,284.3 1,779.8 1,783.1
Cash Flows from Investing Activities:      
Additions to property, plant and equipment (603.9) (677.0) (594.5)
Acquisitions, net of cash acquired (321.7) 0.0 (292.4)
Other, net 3.2 (16.5) 18.3
Net cash used in investing activities (922.4) (693.5) (868.6)
Cash Flows from Financing Activities:      
Proceeds from the issuance of senior notes 693.3 0.0 744.7
Repurchase of senior notes (333.7) 0.0 (517.0)
New credit agreement borrowings 0.0 0.0 250.0
Short-term borrowings (repayments), net 9.5 7.3 (8.9)
Payment of debt issuance and other financing costs (6.5) 0.0 (11.9)
Repurchase of common stock (384.7) (704.9) (450.5)
Dividends paid to Lear Corporation stockholders (186.3) (186.3) (137.7)
Dividends paid to noncontrolling interests (78.9) (79.1) (81.6)
Other, net (66.8) (61.2) (58.8)
Net cash used in financing activities (361.9) (1,030.5) (742.0)
Effect of foreign currency translation (9.4) (36.4) 56.3
Net Change in Cash, Cash Equivalents and Restricted Cash (9.4) 19.4 228.8
Cash, Cash Equivalents and Restricted Cash as of Beginning of Period 1,519.8 1,500.4 1,271.6
Cash, Cash Equivalents and Restricted Cash as of End of Period 1,510.4 1,519.8 1,500.4
Changes in Working Capital Items:      
Accounts receivable (116.2) 230.8 (115.2)
Inventories (69.1) (32.5) (76.0)
Accounts payable (5.5) (199.3) 195.3
Accrued liabilities and other 165.3 (117.9) 68.4
Net change in working capital items (25.5) (118.9) 72.5
Supplementary Disclosure:      
Cash paid for interest 104.4 97.1 94.0
Cash paid for income taxes, net of refunds received of $69.4 million in 2019, $40.6 million in 2018 and $35.5 million in 2017 172.1 279.2 284.0
New Credit Agreement      
Cash Flows from Financing Activities:      
Credit agreement repayments (7.8) (6.3) (1.6)
Prior Credit Agreement      
Cash Flows from Financing Activities:      
Credit agreement repayments $ 0.0 $ 0.0 $ (468.7)